(Business in Cameroon) - In February 2021, commercial banks operating in Cameroon granted XAF82.3 billion of long-term loans (repayable over 80 months on average) to economic operators, according to data compiled by the Bank of Central African States (BEAC). This volume is just 2.08% of the overall loans granted during the period under review.
Over the reviewed period, the said bank mostly granted medium-term loans (repayable over 42 months on average). According to the same source, the medium-term loans granted by the credit institutions were 49% of the overall loans they granted during the period.
Overall, both long-term and medium-term loans constituted over 51% of the loans granted by commercial banks in February 2021. For financial analysts, this is good news for the local economy because those two types of loans are more appropriate to boost the development of companies, which are the main wealth creators.
This data also confirm the economic revival announced for this year (after the recession experienced in 2020) despite the second wave of the coronavirus pandemic, which is the main factor that will prevent the achievement of the optimistic economic forecasts of the government and international financial partners.